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Shipyards

CALIFORNIA | LOCAL
July 3, 1996 | JOHN COX
As many as 500 Long Beach Naval Shipyard workers could receive pink slips by the end of the month unless new funds arrive, the shipyard commander, Capt. John A. Pickering, told employees gathered Tuesday at the Terminal Island facility. The shipyard needs an additional $33 million to avert layoffs before the shipyard's scheduled closure in September 1997, Pickering said. He urged senior employees to make room for their younger work mates by accepting early retirement incentives.
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NEWS
May 14, 1997 | From Times Wire Reports
Poland's bankrupt Gdansk shipyard, birthplace of the Solidarity movement that toppled communism in 1989, will host a disco club on its site to earn money. The shipyard, which fell victim to free-market reforms it helped to initiate, has rented one of its six empty production halls to a company that is developing a nightclub there. The yard went bankrupt last year and dismissed almost all of its 7,000-strong work force.
NEWS
April 6, 1990 | Reuters
Poland's Solidarity-led government will privatize the Gdansk shipyard where the independent union was born and a host of other enterprises under an ambitious free-market bill presented to Parliament on Thursday. The Gdansk shipyard was the scene of strikes against the Communist regime in 1980 that led to the creation of Solidarity under Lech Walesa. Strikes in 1988 paved the way for talks that brought Solidarity to power last year.
CALIFORNIA | LOCAL
May 2, 1989 | H.G. REZA, Times Staff Writer
Authorities remained tight-lipped Monday about last week's FBI raid at Pacific Ship Repair & Fabrication, in which agents carted away several boxes of company documents. The ship repair yard is owned by David Bain, campaign treasurer and political adviser to Mayor Maureen O'Connor. The company is reportedly under investigation for allegedly submitting fraudulent billings to the Navy. Pacific Ship Repair has received many ship-repair contracts from the Navy and recently repaired fire damage on the aircraft carrier Constellation.
WORLD
December 23, 2003 | From Times Wire Reports
Inaugurating its reign as the world's largest ocean liner, the Queen Mary 2 sliced into the Atlantic from a shipyard in St. Nazaire, France, seen off by about 70,000 onlookers and jets streaking the skies red, white and blue. But memories of 15 people killed when a gangway to the ship collapsed on visitors' day on Nov. 14 dampened the mood. The ship's 14-day maiden voyage from England to Fort Lauderdale, Fla., is scheduled to start Jan. 12.
BUSINESS
June 11, 2009 | Ronald D. White
Deep inside the nation's busiest seaport lurks the old Southwest Marine shipyard, a collection of rusting corrugated-metal buildings, broken windows and dark interiors that has appeared in more than a dozen films and television shows, including "Die Hard," "24" and "CSI: Miami." But these days, the 38-acre site at the Port of Los Angeles is the setting for another kind of high-stakes drama, this time involving competing visions of the port's future.
BUSINESS
June 15, 1988
An officer of Sutro & Co. has acquired 9.4% of Jersey City, N.J.-based Todd Shipyards Corp.'s exchangeable preferred Series A stock, according to a Securities and Exchange Commission filing.
BUSINESS
April 17, 1985
The New York-based shipbuilding company, which has shipyards in San Pedro, Seattle and San Francisco, said it would buy up to 200,000 shares of its common stock. It said it believes the stock is undervalued and therefore an attractive investment, but it said it has not decided what it will do with the shares that it buys. The company's stock closed Tuesday at $30.50, up 25 cents. Todd, which this month lost a key Navy contract to build the lead ship of a new destroyer class, has about 4.
NEWS
August 18, 1987 | BILL SING, Times Staff Writer
Todd Shipyards, the nation's largest independent shipbuilder, filed Monday for protection from creditors under Chapter 11 of the federal Bankruptcy Code, the latest evidence of the decline of the shipbuilding industry in the nation and California. Company officials said the loss-plagued firm will continue to operate while developing a plan to repay creditors and that the filing will not have any immediate effect on Todd's San Pedro shipyard, the company's largest and most modern.
BUSINESS
February 10, 1993
Todd Shipyards said its embattled chairman and chief executive, Burton Borman, resigned Tuesday along with four of the company's directors. Borman had been battling dissident shareholders led by Omaha businessman J. Alan Mactier, who waged a proxy fight in September that resulted in dividing control of the company's board. Mactier's group has advocated Todd's selling all or part of the company to enhance shareholder value. Seattle-based Todd hired Salomon Bros.
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